Credit Card Service:400-88-95580  |  Call Center:95580  |  简体中文   |   繁体中文

Users of iOS and Android can directly download mobile banking by scanning the QR code.


May 2015 SMEOI Report by Economic Daily and PSBC

Date: 2016-05-13

In May 2015, “Economic Daily-PSBC Small and Micro-sized Enterprise Operating Index (SMEOI)” (See Fig. 1) closed 47.2, remaining unchanged from the previous month but still below the critical point.

All sub-indicators and sub-indices (See Fig. 2) together showed a momentum of “four ups and four downs”. Among them, the market index was 44.9, up 0.3 point; the purchasing index 46.7, up 0.2 point; the performance index 46.3, up 0.5 point; the expansion index 46.8, down 0.3 point; the confidence index 48.6, down 0.7 point; the financing index 50.7, up 0.2 point; the risk index 51.3, down 0.8 point; and the cost index 59.2, down 0.4 point.

The indices of six regions (See Fig. 3) presented a momentum of “three ups, two downs and one flat”. SMEOI of North China stood at 48.5, down 0.7 point; Northeast China at 46.6, down 0.9 point; East China at 47.1, up 0.8 point; South Central China at 47.8, up 0.3 point; Southwest China at 46.5, unchanged from the previous month; and Northwest China at 48.2, up 0.4 point.

I. SMEOI by Industry in May

Seven industries witnessed a momentum of “four ups, two downs and one flat”.

Viewed from SMEOI of all industries (See Fig. 4), SMEs of the manufacturing industry, the construction industry, the accommodation & catering industry and the service industry showed signs of recovery; those in the farming, forestry, husbandry and fishery and the transportation industry presented varying degrees of decline; and those in the wholesale and retail industry remained unchanged from the previous month.

In May, SMEOI of the farming, forestry, husbandry and fishery stood at 46.0, down 0.8 point. Among it, the market index, the purchasing index and the performance index were 42.5, 45.4 and 42.9, down by 1.5 points, 1.9 points and 1.4 points, respectively. Small and micro-sized market of this industry suffered a depression, with both production and order volume falling by 3.2 points and 2.2 points, respectively, purchasing quantity of raw materials by 2.8 points, profit rate and gross profit rate by 2.0 points and 1.7 points, respectively.

SMEOI of the manufacturing industry reported 45.8, representing a slight rise of 0.1 point from the previous month. Among it, the market index, the purchasing index and the performance index were 41.8, 42.8 and 45.7, increasing by 0.3 point, 0.3 point and 0.8 point, respectively. According to the survey results, SMEs in this industry incurred a narrowed decline, accompanied with an increase of 1.2 points, 0.9 point and 1.3 points in order volume, raw materials inventory and profit rate, respectively.

SMEOI of the construction industry posted 46.4, up 0.3 point from the previous month. Among it, the market index, the purchasing index and the performance index rose by 0.2 point, 0.1 point and 0.8 point, to 44.6, 43.4 and 47.3, respectively. According to the survey results, the value of new engineering contracts and the purchasing quantity of raw materials of SMEs in this industry grew by 1.4 points and 1.1 points, driving up the profit rate by 3.0 points.

SMEOI of the transportation industry stood at 47.2, down 0.4 point. Among it, both the purchasing index and the performance index dropped by 0.6 point, to 44.4 and 45.4, respectively. Survey results showed that SMEs in this industry incurred a decrease of 2.9 points in raw materials inventory and 2.5 points in service price in May. Expenses for transportation and raw material purchasing, etc. rose somewhat, dragging down the gross profit rate by 3.3 points.

SMEOI of the wholesale and retail industry was 49.2, remaining unchanged from the previous month. Among it, the market index, the performance index and the purchasing index rose by 0.1 point, 0.5 point and 1.0 point, to 47.9, 53.6 and 47.1, respectively, evidenced by an increase of 1.5 points, 0.6 point and 2.5 points in retail price, purchasing quantity and gross profit rate, respectively.

SMEOI of the accommodation & catering industry registered 47.9, up 1.2 points. Among it, the market index, the purchasing index and the performance index increased by 1.9 points, 1.7 points and 0.9 point, to 47.7, 47.9 and 47.0, respectively. To be specific, the business volume and the volume of business reservations grew by 2.1 points and 3.2 points, respectively, contributing to an increase of 3.5 points and 1.6 points in raw materials inventory and gross profit rate, respectively.

SMEOI of the service industry was recorded at 47.9, up 0.1 point slightly. Among it, the market index went up by 0.5 point, to 48.0, specifically reflected in an increase of 2.5 point and 1.2 points respectively in business volume and volume of business reservations. The performance index of SMEs in this industry was 45.5, down 0.8 point, and the performance index 46.9, down 1.5 points.

II. SMEOI by Region

In May, the operating index of six regions (See Fig. 3) showed a momentum of “three ups, two downs and one flat”.

SMEOI of East China, South Central China and Northeast China rebounded by 0.8 point, 0.3 point and 0.4 point, to 47.1, 47.8 and 48.2, respectively. Specifically, East China and South Central China were mainly driven by market supply & demand recovery, profitability enhancement and increase of financing intention. SMEOI of Northwest China increased by 1.9 points, to 45.9. Among it, the purchasing index and the performance index also rose by 3.6 points and 2.2 points, to 48.0 and 47.6, respectively.

Both North China and Northeast China encountered a slowdown of SMEOI, with the general index dropping by 0.7 point and 0.9 point, respectively.

SMEOI of Southwest China remain unchanged from the previous month with the market index reporting 43.1, down 1.5 points; however, the decline of overall operating costs contributed to the profitability enhancement of enterprises, and the performance index thus hit 46.1, up 1.5 points.

III. Business Expectation of SMEs

In May, both the expansion index and the confidence index of SMEs declined somewhat.

Except the wholesale and retail industry and the accommodation & catering industry, other surveyed industries witnessed a downward trend in the expansion index in May. The expansion index of SMEs posted 46.8, down 0.3 point from the previous month. That of SMEs in the farming, forestry, husbandry and fishery stood at 46.0, down 2.2 points, evidenced by a decrease of 1.4 points and 2.9 points in new investment and labor demand, respectively; that in the transportation industry registered 46.1, down 1.2 points, accompanied with a decrease of 1.9 points and 1.0 point in new investment in fixed assets and labor demand, respectively. In general, seven industries showed ups and downs in the expansion index, but still stayed below the critical value of 50, revealing a continuous contraction of the expansion demand.

In May, the confidence index of SMEs stood at 48.6, down 0.7 point. Except the farming, forestry, husbandry and fishery and the service industry, other industries incurred a decline in the confidence index. Among them, SMEs in the construction industry and the wholesale and retail industry saw a drop of 1.0 point and 1.4 points, respectively, while those in the manufacturing industry, the transportation industry and the accommodation & catering industry all suffered a decline of 0.7 point.

IV. SME Financing and Risk

In May, the financing index of SMEs (See Fig. 5) reported 50.7, up 0.2 point slightly. Except the transportation industry and the wholesale and retail industry, other industries embraced an increase in the financing demand.

The financing index of SMEs in the farming, forestry, husbandry and fishery stood at 52.7, up 1.0 point; that in the manufacturing industry at 50.5, up 0.4 point; that in the construction industry at 50.3, up 1.6 point; that in the accommodation & catering industry at 48.0, up 1.9 points, remaining at low level; and that in the service industry at 50.1, up 1.5 points.

In May, the risk index of SMEs (See Fig. 5) posted 51.3, falling for consecutive two months and with the decline enlarged to 0.8 point. Except the farming, forestry, husbandry and fishery, other industries incurred a decline in the risk index. of which the transportation industry and the service industry suffered a drop of over 1 point, down 2.4 points and 1.7 points, respectively. Survey data indicated that all industries except the farming, forestry, husbandry and fishery and the construction industry saw a worsened turnover of working capital and most industries incurred an extended payback period in varying degrees.

 

Notes:

All the indictors are positive ones with the value ranging between 0 and 100; the critical point is 50, representing the general state. An index higher than 50 means an improving business situation, otherwise, the business situation gets worse.

The original data of both the risk index and the cost index have been processed and adjusted to positive indicators. The higher the indicator is, the better the situation is.

Figures:

Fig. 1 Economic Daily-PSBC SMEOI

Source of data: PSBC

Fig. 2 Sub-indices of SMEs

Source of data: PSBC

Fig. 3 Regional Development Index

Source of data: PSBC

Fig. 4 Index Comparison of Industries

Source of data: PSBC

Fig. 5 Financing Index and Risk Index of Industries

Source of data: PSBC